Updated July 2026

Mortgage Payment Calculator

Your monthly mortgage payment is the loan's principal and interest plus a share of your yearly property tax, homeowners insurance, and PMI if you put down under 20%. Enter a price and down payment below to see the full number, itemized, in real time.

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Your numbers

Down payment
= $80,000 down
Loan term
This week's US averages: 6.49% for 30-year, 5.82% for 15-year (updated Jul 2026). Your rate depends on credit and lender. Freddie Mac PMMS
Estimated monthly payment
$2,537/mo
Principal
$29011%
Interest
$1,73168%
Property tax
$36714%
Home insurance
$1506%
Loan amount
$320,000
Total interest
$407,385
Total cost
$913,385
principal, interest & fees
Payoff
Jun 2056
30 yr
Over the life of the loan

Loan balance over time

$0$80K$160K$240K$320K5y10y15y20y25y30y
Crossover in year 20, the point where more of each payment builds equity than pays interest.

Nothing is saved or sent. The share link holds your numbers, in your browser only.

Full breakdown

Amortization schedule

Every payment, split into principal and interest. Export it or print a copy.

YearPrincipalInterestBalance
2026$1,763$10,360$318,237
2027$3,701$20,545$314,536
2028$3,949$20,297$310,587
2029$4,213$20,033$306,374
2030$4,495$19,752$301,879
2031$4,795$19,451$297,084
2032$5,116$19,130$291,968
2033$5,458$18,788$286,511
2034$5,823$18,423$280,688
2035$6,212$18,034$274,476
2036$6,628$17,619$267,848
2037$7,071$17,175$260,777
2038$7,543$16,703$253,234
2039$8,048$16,198$245,186
2040$8,586$15,660$236,600
2041$9,160$15,086$227,440
2042$9,773$14,474$217,667
2043$10,426$13,820$207,241
2044$11,123$13,123$196,118
2045$11,867$12,379$184,251
2046$12,660$11,586$171,591
2047$13,507$10,739$158,084
2048$14,410$9,836$143,674
2049$15,374$8,872$128,300
2050$16,402$7,844$111,898
2051$17,498$6,748$94,400
2052$18,668$5,578$75,731
2053$19,917$4,329$55,815
2054$21,248$2,998$34,566
2055$22,669$1,577$11,897
2056$11,897$226$0
The short version

What goes into a monthly mortgage payment

A quoted rate only sets your principal and interest. The payment your lender collects usually bundles four things, shortened to PITI:

  • Principal pays down what you borrowed.
  • Interest is the lender's charge on the balance that is left.
  • Taxes are your property tax, collected monthly into escrow.
  • Insurance is your homeowners policy, also escrowed.

If your down payment is under 20%, add PMI. If you buy in a managed community, add HOA dues. The calculator shows each slice so you can see where the money goes.

Worked example

A $400,000 home, step by step

Buy at $400,000, put 20% down, and take a 30-year loan at this week's average rate, and you borrow $320,000. Principal and interest come to a fixed monthly figure, and on top of that you pay roughly 1.1% of the price in property tax and about $1,800 a year for insurance. With 20% down there is no PMI. The amortization table shows how the principal share of each payment grows every month while the interest share shrinks.

Questions & answers

Frequently asked

How do I lower my monthly mortgage payment?
Three levers move it most: a larger down payment (which shrinks the loan and can remove PMI), a lower interest rate, and a longer term. A longer term lowers the monthly figure but raises total interest, so weigh both numbers in the calculator.
Does this include property tax and insurance?
Yes. The monthly total bundles principal, interest, property tax, homeowners insurance, PMI, and HOA dues, with editable US-average defaults for each.
What is a typical monthly mortgage payment?
It depends entirely on price, down payment, rate, and location, so there is no single figure. Enter your own numbers for a realistic estimate rather than a national average that will not match your situation.
Is my information saved?
No. Everything runs in your browser, there is no account or email field, and a shared link carries your numbers in the URL rather than through a server.
MF
Marcus Fielding· Mortgage analyst & editor
Published June 2026 · Updated July 2026
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